The Real Deal New York

Here’s how much Guardian is paying Coach for Hudson Yards sublease

Monthly rent starts at $790K
September 15, 2017 09:00AM

10 Hudson Yards and Guardian Life Insurance CEO Deanna Mulligan

Coach plans to sublease nearly 150,000 square feet of its 10 Hudson Yards office to Guardian Life Insurance.

Guardian is taking 148,000 square feet of Coach’s 52nd floor office, the Commercial Observer reported. Guardian has agreed to pay a monthly base rent of $790,000 from March 2019 through June 2019. Rent is set to increase to between $1.1 million and $1.3 million from July 2019 through the end of the sublease, June 2036.

The Real Deal
first reported that Guardian was in talks for the space.

In January, Coach purchased its 740,000-square-foot commercial condo and then paid another $220 million to build out its space at the Hudson Yards tower. The building, which was developed by Related Companies and Oxford Properties Group, spans 1.7 million square feet and opened last year. [CO] Kathryn Brenzel